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A government-backed savings program, the Provident Fund (PF) seeks to provide salaried employees with financial security after retirement or in the case of an emergency. Every month, the employee's salary is shared in a set proportion between the company and the employee, which accrues with time owing to interest.
Let's look at how PF withdrawal could be beneficial.
Ramesh, a 36-year-old marketing executive, had been paying contributions to his PF account for eight years. When he was laid off owing to the company's downsizing, he needed immediate cash to cover his family's expenses, such as rent and medical bills. With no upcoming job options, he decided to withdraw some of his PF savings.
Component | Amount (₹) |
Total Employee Contribution | ₹2,40,000 |
Total Employer Contribution | ₹1,85,000 |
Accrued Interest | ₹65,000 |
Total PF Balance | ₹4,90,000 |
Ramesh requested a ₹1,50,000 partial PF withdrawal under the unemployment clause. After applying through the EPFO web portal, the sum was credited to his account within 10 working days. This example demonstrates how PF savings can provide a valuable financial cushion during difficult times. In this blog, we will guide you through the eligibility, documentation, etc for a smooth PF withdrawal.
Read More - How to Check PF Withdrawal Status
Condition | Details |
Retirement | Age ≥ 58 years. Full balance + interest. |
Unemployment | You must have been unemployed for more than two months. Attestation by the employer is required. |
Example: If Ramesh is unemployed for more than two months, he can withdraw his entire PF balance (₹4,90,000) rather than a portion amount.
Allowed for particular purposes such as medical emergencies, house loans, and education. As Ramesh withdrew ₹1,50,000 under the unemployment clause.
Purpose | Eligibility | Max Amount |
Medical Emergency | Self/family treatment. | Up to 6 months’ basic salary or employee share + interest, whichever is lower. |
Marriage |
Example: Ramesh can withdraw up to ₹1,20,000 for his child's education, which is 50% of his employee contribution of ₹2,40,000.
To withdraw your PF, you will need these documents. Here's what Ramesh filed for his ₹1,50,000 unemployment withdrawal:
Document | Why Needed? | Ramesh's Submission |
Aadhaar Card | Mandatory KYC | Linked to UAN 5 years ago |
PAN Card |
Key Lesson from Ramesh:
His withdrawal was approved in 10 days because:
Here's how Ramesh withdrew ₹1.5 lakh in just 10 days through the EPFO portal:
Step | Action Required | Ramesh's Experience | Pro Tip |
1. Login | Visit EPFO Portal Enter UAN & Password | Used UAN: 100XXXXX3456 Password generated by SMS OTP. | Enable Caps Lock (passwords are case-sensitive) |
Day 1: Applied online.
Day 3: Received permission SMS.
Day 7: Amount Credited
Understanding the tax rules helped Ramesh minimise deductions on his ₹1,50,000 withdrawal. Here's what you need to know:
Service Period | TDS Rate |
Self/sibling/children.
50% of employee share + interest. |
Home Loan | Must be a PF member for at least 3 years. | 90% of the total will be used for a down payment or repayment. |
Education | Children’s higher education (after 7+ years in PF). | 50% of the employee share. |
Shared PAN to avoid higher deduction |
UAN Number | Primary account identifier | Used UAN 100XXXXX3456 |
Bank Details | For direct transfer | ICICI A/c XXXXX7890 (pre-linked) |
Form 19/31 | Withdrawal application | To apply for withdrawal, complete Form 31 |
Cancelled Cheque | Additional verification | Attached ICICI cheque |
2. Navigate | Go to: *Online Services > Claim (Form-31/19/10C)* | Selected Form 31 for partial withdrawal | Form 19 indicates a full withdrawal. |
3. KYC Check | Verify pre-linked: Aadhaar PAN Bank Account | All documents displayed the "Verified" status. | Fix mismatches before applying |
4. Withdrawal Type | Select: Partial (Form 31) Full (Form 19) Pension (Form 10c) | Select "Unemployment" as the reason | Medical emergencies get faster approval |
5. Enter Details | Purpose (e.g., medical/loan) Amount (₹1,50,000) Employer details (if applicable) | Mentioned layoff date and last employer | Only take out what is necessary to maintain the balance's growth. |
6. Submit | Aadhaar OTP verification Download the acknowledgement (PDF) | Received SMS confirmation instantly | Save the PDF for future reference |
7. Disbursal | Wait for: EPFO permission (3-5 days) Bank credit (3-5 days) | Money received in 7 days |
*T&C Apply
Ramesh's Case (8 Years Service)
Less than 5 years | 10% (with PAN) 30% (without PAN) | Not relevant. |
5+ years | 0% TDS (completely tax-free) | Paid ₹0 TDS (8 years service) |
Exception: There is no TDS if the withdrawal amount is less than ₹50,000 (even if less than 5 years).
Ramesh didn't need these, but you might:
Also Read - EPFO: Your Complete Guide
Option | Who Can Submit? | Purpose |
Form 15G | Individuals below 60 years (Income < taxable limit) | Declares no taxable income |
Form 15H | Senior citizens (60+ years) with income below the taxable limit. | Same as 15G for elders |
Example: If Ramesh had only 3 years of service, he would pay 10% TDS (₹15,000 on ₹1,50,000).
Form 15G can be used to avoid TDS if the annual income is less than ₹2.50,000.
Note: Early withdrawals (<5 years):
Ramesh's successful ₹150,000. PF withdrawal shows how strategic planning and digital technologies can make the process easier. His story demonstrates that with current records and wise digital decisions, PF withdrawals can be rapid and stress-free. Plan ahead, withdraw sensibly, and let your money grow safely!
Need help? LoansJagat will help you through every stage!
Can I withdraw PF without employer approval?
Yes, in many instances, such as unemployment, medical emergencies, or marriage, if your KYC (Aadhaar, PAN, bank data) has previously been confirmed and connected to your UAN, you do not require employer consent. This is known as automatic claim processing.
Can I withdraw my PF several times?
Yes, partial withdrawals are permitted several times for various acceptable reasons (e.g., college, marriage, home loan), but each has its own limit and frequency. For example, marriage-related withdrawal is only permitted once.
What if I can't remember my UAN?
To recover your UAN, go to the EPFO Member Portal and click "Know Your UAN". You'll need your registered mobile number and PAN/Aadhaar.
Can I withdraw my PF from abroad if I have relocated permanently?
Yes. If you have relocated overseas and are no longer employed in India, you can withdraw your PF online using the EPFO portal as long as your UAN is active and KYC is complete. Ensure that your Indian mobile number is active for OTP.
How to Close ICICI Bank Account |
